The North America polyurea coatings market is expected to grow from US$ 240.57 million in 2022 to US$ 410.97 million by 2028. It is estimated to grow at a CAGR of 9.3% from 2022 to 2028.
Increase in Building and Construction Activities fuels North America Polyurea Coatings Market
The building & construction industry is growing rapidly in many countries across the world due to a rise in government investments and increase in demand for residential construction projects. Countries such as the US have the world's most significant building and construction businesses. According to Associated General Contractors of America (AGC), the construction industry in the US creates structures worth US$ 1.4 trillion each year. A rise in construction activities in the country is attributed to the increasing population and the proliferating commercial sector. Polyurea coatings are mainly used for sealing and protecting structures and tanks. The properties of polyurea enhance the durability of a structure or building. Therefore, the surge in construction activities propels the demand for North America polyurea coatings market in the country.
North America Polyurea Coatings Market Overview
The North American polyurea coatings market is growing due to the increased coating usage in flooring and roofing applications during residential construction. Polyurea coating is used to protect and waterproof; polyurea is an excellent substitute to other roofing methods. A polyurea roofing system will waterproof and protect the structure against damages caused by expansion, inclement weather, and contraction with temperature changes, abrasion, high and low-impact stressors, and corrosion. Furthermore, rising concern regarding environmental protection in the manufacturing & construction industries, mainly in Canada and Mexico, is expected to fuel the demand for polyurea coatings in the coming years. Polyurea releases neither CO2 nor other harmful gases during its manufacture or lifetime. The production of the essential components (raw materials) can be made climate-neutral utilizing renewable energies, so it is also possible to act in a timely manner regarding the eco-footprint.
North America Polyurea Coatings Market Revenue and Forecast to 2028 (US$ Million)
North America Polyurea Coatings Market Segmentation
The North America polyurea coatings market is segmented into raw material, type, technology, application and country.
Based on raw material, the North America polyurea coatings market is segmented into aliphatic polyurea and aromatic polyurea. The aromatic polyurea segment held a larger share of the North America polyurea coatings market in 2022.
Based on type, the North America polyurea coatings market is segmented into pure polyurea and hybrid polyurea. The hybrid polyurea segment held a larger share of the North America polyurea coatings market in 2022.
Based on technology, the North America polyurea coatings market is segmented into spraying, pouring, and hand mixing. The spraying segment held the largest share of the North America polyurea coatings market in 2022.
Based on application, the North America polyurea coatings market is segmented into building and construction, transportation, industrial application and others. The building and construction segment held the largest share of the North America polyurea coatings market in 2022.
Based on country, the North America polyurea coatings market is segmented into the US, Canada, and Mexico. The US dominated the share of the North America polyurea coatings market in 2022.
BASF SE; Huntsman International LLC; Nukote Coating Systems International LLC; PPG Industries Inc; Rhino Linings Corp; Sika AG; Teknos Group Oy; The Sherwin-Williams Co; and VIP Coatings International GmbH & Co KG are the leading companies operating in the North America polyurea coatings market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 240.57 Million |
| Market Size by 2028 | US$ 410.97 Million |
| CAGR (2022 - 2028) | 9.3% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Raw Material
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Polyurea Coatings Market is valued at US$ 240.57 Million in 2022, it is projected to reach US$ 410.97 Million by 2028.
As per our report North America Polyurea Coatings Market, the market size is valued at US$ 240.57 Million in 2022, projecting it to reach US$ 410.97 Million by 2028. This translates to a CAGR of approximately 9.3% during the forecast period.
The North America Polyurea Coatings Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Polyurea Coatings Market report:
The North America Polyurea Coatings Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Polyurea Coatings Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Polyurea Coatings Market value chain can benefit from the information contained in a comprehensive market report.
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